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Guest Commentaries

POSTED ON October 16, 2013  - POSTED IN Guest Commentaries, Interviews

Enjoy this enlightening interview with Doug Casey on This Week in Money, hosted by Jim Goddard. Casey expounds upon the failing US dollar, the importance of precious metals investing, Asian gold demand, Janet Yellen, and the broader future of the United States.

“Confidence [in the US dollar] is going to be lost more and more quickly. Non-Americans who don’t have to hold dollars…are going to be looking towards the exits… I’m very partial to the precious metals… [Gold is] at a very very reasonably priced acquisition at $1300 an ounce. I suggest that people take those dollars out from under their mattresses and trade them for gold coins.”

Listen to the Full Interview Here

doug casey

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POSTED ON October 9, 2013  - POSTED IN Guest Commentaries

Forbes published an eye-opening op/ed by Keith Weiner of the Gold Standard Institute today. Weiner first looks at the government’s historical data on the costs of consumer goods and employee salaries. He then looks at the same data in terms of gold ounces, revealing that American workers are laboring longer for dramatically less pay than their parents. Not only that, but their purchasing power has also plummeted since the 1960s, before Nixon completely severed the US dollar from the gold standard.

“By switching to gold, we can measure both wages and prices on an absolute scale—in ounces—and we can make precise comparisons. To convert the price of anything to gold, just divide the price by the current gold price. For example, in 2011 if a big-screen TV was $785, then divide that by the gold price of that year; the television set cost half an ounce of gold.

The bottom line is that, in terms of gold, wages have fallen by about 87 percent. To get a stronger sense of what that means, consider that back in 1965, the minimum wage was 71 ounces of gold per year. In 2011, the senior engineer earned the equivalent of 63 ounces in gold. So, measured in gold, we see that senior engineers now earn less than what unskilled laborers earned back in 1965.”

Read the Full Commentary Here

1 kilo physical gold bullion

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POSTED ON October 4, 2013  - POSTED IN Guest Commentaries

Brett Arends published an excellent article on MarketWatch today, revealing that US Treasury officials have no intention of selling gold reserves. As one Treasury spokeswoman told him: “Selling gold would undercut confidence in the US both here and abroad, and would be destabilizing to the world financial system.”

“Grab any Wall Street trader in a bar, or any portfolio manager in his office, and he’s likely to tell you gold is finished.

It’s silly, nothing more than a shiny metal, a substance with little use and little real value, a ‘barbarous relic,’ and the stuff of nothing more than superstition. Only a fool would own any gold in his portfolio. Right?

After all, its value has plunged by $500 an ounce in the past year, and $100 just in the past month. Gold hasn’t even rallied during the budget crisis: So much for its ‘Safe Haven’ status.

There is just one nagging problem with this story line. One group of people disagrees. And I am not talking about wacko gold bugs in Arizona (‘the ex-husband state’) with tinfoil on their heads.

I am talking about the people running the United States Treasury. They remain firm believers in gold. Big-time.”

Read the Full Article Here

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POSTED ON October 3, 2013  - POSTED IN Guest Commentaries

By Jeff Clark from Casey Research

Goldman Sachs is once again predicting that gold will fall, setting a new near-term target of $1,050.

Never mind the schizophrenic gene that would be required to follow the constantly fluctuating predictions of all these big banks; it’s amazing to me that anyone continues to listen to them after their abysmal record and long-standing anti-gold stance.

Sure, the too-big-to-fails can move markets – but they say things that are good for them, not us. For example, while Goldman Sachs was telling clients and the public to sell gold in the second quarter of 2013, they bought 3.7 million shares of GLD and became the ETF’s 7th largest holder.

POSTED ON October 2, 2013  - POSTED IN Guest Commentaries, Interviews, Videos

Ned Goodman, a Canadian billionaire businessman, addressed Cambridge House’s Toronto Resource Investment Conference a few weeks ago. While Goodman’s delivery is subdued, his message could not be more important. Goodman believes the US is already in a recession and reviews the reasons why the international community is beginning to turn its back on the US dollar.

The Chinese have 3 1/2 trillion US dollars and they’re spending these dollars as quickly as they can. And it will not be long before the rest of us in the world and the US will be thinking likewise… In the ’30s everyone wanted US dollars. Today, everyone wants to get rid of them. Buying hard assets is what you’ll hear from many people…”

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POSTED ON October 1, 2013  - POSTED IN Guest Commentaries

Cameron Alexander wrote an interesting article on Chinese gold demand in CME Group’s publication Open Markets. The Chinese have rushed to take advantage of low gold prices this year, and China’s central bank is talking about easing restrictions on gold imports going forward. China is on track to surpass India in global gold demand this year. Alexander explains the gold mania inherent in Chinese culture and what a vital role the yellow metal will play in the Chinese economy going forward.

“As the gold price fell almost 30 percent between January and June this year, the largest decline since 1983, some 585 tonnes of gold ETF holdings were liquidated as momentum driven investors exited the market. The price fall prompted physical demand in China to reach astonishing levels, however, as mainland consumers rushed to purchase the yellow metal.

The price collapse was seen as an unprecedented opportunity by many to restock gold assets, with Chinese “aunties”, a term of respect for older women who are generally in charge of household budgets, seizing the opportunity to stock up on gold items and seasonal gifts, purchases of which were normally scheduled for the later part of the year. This led to the frenzy in retail activity that was witnessed across the country in the second quarter. The groundswell in demand saw these aunties willing to line up outside retail stores literally for hours in a bid to get their hands on some form of gold product, be it plain jewelry (primarily 24-carat) or investment bars, and in many cases, led to outlets being completely wiped out of all inventory.”

Read the Full Article Here

China-Gold

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POSTED ON September 26, 2013  - POSTED IN Guest Commentaries, Interviews

Tekoa de Silva of Bull Market Thinking spoke with Jim Rickards, author of Currency Wars, about the Fed’s decision to continue QE without tapering. Rickards, like Peter Schiff, had no expectation of tapering. The most interesting part of the interview is Rickards’ discussion of his involvement in a financial war game conducted by the Pentagon in 2009, which examined the role gold would play in the case of an international currency war.

“[Countries] want physical custody of gold…[they’re] positioning for the day when there’s a massive loss of confidence in paper money… When the international monetary system collapses and it comes time to rewrite the rules of the game and create a new system…[it’s] going to be [all about] how much gold you have. So it’s not surprising that everyone is trying to get their hands on as much gold as possible.”

Listen to the Full Interview Here

Rickards 13 09

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POSTED ON September 20, 2013  - POSTED IN Guest Commentaries

In a commentary released today on Of Two Minds, Charles Hugh Smith explains how the Fed has painted itself into a corner with its endless quantitative easing. Smith argues that it can’t be long before the markets become completely desensitized to the money printing and the whole bubble economy goes kablooey. How do you protect yourself from the fallout of a super nova asset bubble of this size? Avoid dollar denominated investments and look to hard assets like physical gold and silver.

“The trouble with inflating asset bubbles is that you have to keep inflating them or they pop. Unfortunately for the bubble-blowing central banks, asset bubbles are a double-bind: you cannot inflate assets forever. At some unpredictable point, the risk and moral hazard that are part and parcel of all asset bubbles trigger an avalanche of selling that pops the bubble.

This is another facet of The Fed’s Double-Bind: if you stop pumping asset bubbles, they pop as participants realize the music has stopped, and if you keep pumping them, they expand to super-nova criticality and implode.

There are several dynamics at play in this double-bind.”

Read the Full Commentary Here

supernoa asset bubble

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POSTED ON September 19, 2013  - POSTED IN Guest Commentaries

After yesterday’s announcement of the Fed’s decision to not taper QE, CNBC published a commentary about how the news is affecting the views of stock traders and market analysts. Many are waking up to the fact that the economy is a long way off from true recovery and believe that gold may have kicked its bearish streak.

But traders believe that the fundamental picture has changed. In fact, Wednesday’s Fed decision changed Anthony Grisanti from a gold bear to a gold bull, but not for the reasons Boockvar outlined.

‘It’s not so much the fact the the Fed is continuing QE,’ said Grisanti, who is the founder of GRZ Energy and a CNBC contributor. ‘It’s the message that’s being sent, which is that the underlying economy is so bad that we can’t taper $10 billion. That means that you want to own gold to protect yourself—and that’s why I’m changing my opinion on gold.'”

Read Full Article Here

bernanke&gold

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POSTED ON September 16, 2013  - POSTED IN Guest Commentaries, Interviews

Last week, Vanessa Collette of GoldSeek.com interviewed global market strategist Dan Popescu at the Toronto Resource Investment Conference hosted by Cambridge House International. Popescu spoke about the role gold plays in the currency war that is pitting Asia and emerging markets against developed Western nations. Given the uncertainty of the US dollar’s stability, he thinks gold could easily surge beyond $2,000 before the end of the year, if an unpredictable “black swan” event should occur.

Gold is a hard currency, one that most of the central banks are buying now. Even the major developed counties, which used to sell it – now they are not selling it anymore, but they might start also buying it. And China has its own strategy, which is to use gold to give credibility to their currency.”

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